The Bitcoin Trading Group is now open for business. The BTG is a trading organization which allows individuals to follow a bitcoin trader’s transactions in the Mt. Gox market. The Bitcoin Trading Group has been managing a few accounts for a testing period and is now ready to open to the general public.
The BTG is not a hedge-fund or investment service, but rather it is an opportunity for individuals to mimic a bitcoin trader’s trades for a performance fee (10%) based on a high watermark. The objective of the BTG is to maximize the bitcoin in a follower’s account and assess a performance fee based on the bitcoin generated. We value your privacy, so we do not require anything but API details through email.How it works:
1. Open an account with Mt. Gox and fund it with bitcoin
2. Create an API key to both get_info and trade and email this key to us
3. We will trade your account and assess a performance fee based on profits generatedWhat we do:
1. We will enter trades in a master account which will be mimicked in all participating accounts
2. We will trade in the hopes of growing the bitcoin balance of individual participants
3. We will invoice clients through the email which they provide requesting a 10% performance fee on all gains from trading activities. We will operate on an investment cycle – typically a week to a month (depending on market conditions). During the investment cycle we will, for the most part, not add new accounts to be traded. At the end of the cycle we will send invoices to clients
4. If an individual will not pay performance fees, we will remove him from the program
5. We will post our performance metrics from time-to-timeHow to create an API key and give access:
1. Create a new account with Mt. Gox and fund it with as many bitcoin as you wish to participate in the program.
2. Within your Mt. Gox account, click on your username in the top right
3. Click on “Application and API access”
4. Scroll to the bottom and in the “Advanced API Key Creation” header, type a name of your choosing, and click “create key”
5. Select “Get_Info” and “Trade”
6. Send the “Key” and the “Secret” to BitcoinTradingGroup@gmail.comMarket and Operational Risks:
1. We make no guarantee of profit, loss, or even activity. We trade when a market opportunity arises both on a systematic and discretionary basis. This means that we may have a buy or sell signal generated daily, weekly, or even monthly. This said, any funds that an individual wishes to follow our trading methodology with must be speculative by nature.
2. We trust the general public to pay the performance fee. The burden of honesty is in the hands of the public. If a large percentage of the public proves to be dishonest or reselling our trading signals, we will discontinue the program and trade private accounts.
3. We trust the security of Mt. Gox. If Mt. Gox is compromised, your accounts may be as well.
4. We are not a hedge-fund or investment service. We are an organization which allows individuals to follow a bitcoin trader by paying a percentage of profits generated. We make no claim of being an investment advisor or a fund manager. Any profit/loss that you experience through this program is your responsibility and you can hold us liable for nothing.
5. By participating you agree to the above terms.